The human resource department of a company is responsible for dealing with aspects such as recruiting people, firing them, providing them with incentives and benefits, training, vacation etc. Strategic human resource development is basically a part of human resource management. Strategic human resource development helps the company in fulfilling the requirements of the employees. At the same time, they also help in promoting the goals of the company.
Strategic human resource development requires managers and people from the human resource department to think ahead as to what the requirements of a certain firm are going to be, what the needs of the employees are and what ways can be used to fulfill all these aspects. Strategic human resource development is one factor which can change the whole way in which a company functions.
Just as employees work hard to meet the requirements and goals of a company, so does the company work to meet the employee’s needs. Meeting the needs of an employee can be something like producing a better and more comfortable working environment. Having a better working environment can also help increase the productivity of the worker. In order to achieve these factors, human resource management is the only way to go.
By being able to understand and plan for the future requirements of your employees, you can increase the number of workers who remain and work for your company. If a worker is aware of what good the company he/she works for is doing for his/her future in the company, it is more likely that workers would stay to make use of these benefits. Strategic human resource development can also help a firm save money. This is because as the rate of workers staying with company increases, the HRM department would have to spend less money on recruiting new people.
Strategic human resource development is also helpful for a firm as when candidates are interviewed for a certain position in the firm, interviewing techniques are made use of which eliminate those candidates not suitable for the job. This way the HRM department is less likely to make a mistake in recruiting the wrong type of person.
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